IOL Namibia Bank Account Details

IOL Namibia Bank Account Details

TGF stands for Trustco Group Finance (Pty) Ltd.Trustco Finance offers 100% finance on all IOL courses.

*A single cash payment per IOL course can be done or if you prefer ,

financing is available	from Trustco Finance Repayment by installments
is done over 12,24,36,48 or 60 months.
IOL Bank Details:	Institute of Open Learning
	Bank Windhoek Sanlam Centre
Account number:	1230612701
Branch code:	486372

The following procedures must be followed when depositing money into the ac- count of IOL:

i. Fax the deposit slip to IOL Finance(061-275 4090)

ii. Clearly state your surname and full names and student number, ID number and contact number.

IOL cannot be held responsible for damages if the above procedures are not fol- lowed. It is the responsibility of the student to make sure that the monthly instal- ment is paid to TGF regardless of whether he/she is being financed by means of loan or bursary. If for some reason deductions don’t take place, you are expected to make a payment or alternative arrangements.

Upon approval of the loan , the principal debt outstanding shall attract monthly interest at a rate linked to the bank’s prime lending rate, calculated on the daily balance and capitalized monthly in arrears at a time determined by the lender(IOL Finance). IOL Finance reserves the right to increase / decrease the interest rate at any time should the prime rate change. Interest accrues on all overdue amounts in terms of the provisions of the Usury Act as applicable from time to time. The period of the repayment will automatically be extended to cover all the arrear amounts to be repaid on a monthly basis until debt has been settled.

Refunds: If , for some reason , overpayment by you has occurred , the overpayment will be refunded at the end of that specific month.

i.Refunds will only be made for approved cancellations, if accepted and agreed upon by the Managing Director of IOL, ensure that you read your contract.

ii.Course fees paid by a student cannot be transferred to another student.

iii.No refunds will be made towards payments for rewriting exams